Abstract: A tool rack or tool caddy is disclosed herein for conveniently holding a variety of tools utilized in the designing and construction of fishing flies and lures and equipment. The rack or caddy removably mounts on a vertical shaft of a conventional tool vise so as to be in close proximity to the working jaws thereof. The rack or caddy includes a mounting hole for slidably receiving the vise shaft and extends perpendicular therefrom. A selected side of the elongated rack includes a plurality of hooks for holding tools and the rack is provided with a plurality of apertures or holes for insertably holding additional tools. A multiplicity of vertical rods may be carried on the racks for rotatably supporting spools of thread, wire or the like.